1. Implementing Project Financial Management and Grants Management
  2. How Project Costing Integrates with Oracle Applications

How Project Costing Integrates with Oracle Applications

Oracle Fusion Project Costing fully integrates with Oracle Fusion Purchasing, Oracle Fusion Self Service Procurement, Oracle Fusion Receipt Accounting, Oracle Fusion Expenses, Oracle Fusion Payables, Oracle Fusion Inventory Management, and Oracle Fusion Cost Management and enables you to capture and transfer project-related transactions.

For example when you purchase goods, the project information is carried from the requisition to purchase orders to supplier invoices to finally project expenditure items.

Oracle Fusion Project Costing also integrates with Oracle Fusion Assets to capture capital assets and retirement adjustment costs. Oracle Fusion Project Costing fully integrates with Oracle Fusion Subledger Accounting so that you can create accounting for your project-related transactions.

Implementing Oracle Fusion Payables

Implement Oracle Fusion Payables to enter project-related supplier invoices in Oracle Fusion Payables and to import project-related expense reports from Oracle Fusion Expenses. You use supplier and invoice information in Oracle Fusion Payables to create expenditure items for projects in Oracle Fusion Project Costing.

When the primary accounting method is accrual basis accounting, you transfer invoice distributions and payment discounts as actual costs. When invoices are matched to receipt accrual purchase orders, Oracle Fusion Supply Chain Management transfers invoice variances to Oracle Fusion Project Portfolio Management. For receipt accruals, Oracle Fusion Payables transfers discounts to Oracle Fusion Project Portfolio Management.

Implementing Oracle Fusion Purchasing, Oracle Fusion Self Service Purchasing, Oracle Fusion Receipt Accounting, and Oracle Fusion Cost Management

Implement Oracle Fusion Purchasing and Oracle Fusion Self Service Purchasing to enter project-related requisitions, requests for quotations, and purchase orders, and then report them as outstanding committed costs of requisitions and purchase orders on your projects.

Implement Oracle Fusion Receipt Accounting to create receipts against purchase orders. Thereafter, Oracle Fusion Cost Management transfers project-related receipt accruals as actual supplier costs. When the primary accounting method is accrual basis accounting, you transfer the costs associated with the receipt as actual costs. Oracle Fusion Cost Management transfers the variances for receipt accruals by accumulating the costs from Oracle Fusion Payables and then transfers them to Oracle Fusion Project Portfolio Management.

Implementing Oracle Fusion Inventory Management

Implement Oracle Fusion Inventory Management to order and receive items into inventory before assigning them to a project. You can capture project information for miscellaneous transactions and movement requests as you take items out of or receive items into Oracle Fusion Inventory Management. When you enter project-related transactions in Oracle Fusion Inventory Management, you enter the project information on the source transaction. Oracle Fusion Cost Management transfers project-related miscellaneous inventory issues and move orders to Oracle Fusion Project Portfolio Management.

Implementing Oracle Fusion Expenses

Employees and contingent workers can enter and submit expense reports. Oracle Fusion Expenses doesn't reimburse employees and contingent workers in the same manner. When you submit an expense report for reimbursement, the reimbursement process creates:

  • Payment requests for employees

  • Invoices for contingent workers

Oracle Fusion Expenses integrates with Oracle Fusion Payables to provide quick processing of expense reports for payment. You can create project-related expense reports in Oracle Fusion Expenses and transfer to Oracle Fusion Payables and then to Oracle Fusion Project Costing.

Implementing Oracle Fusion Assets

Implement integration with Oracle Fusion Assets to collect construction-in-progress and expense costs in Oracle Fusion Project Costing for each asset you're building. You can then update your fixed asset records when assets are ready to be placed in service or retired. In addition, you can perform retirement cost processing to capture retirement-work-in progress costs associated with the retirement of assets in Oracle Fusion Assets.

Implementing Oracle Fusion Subledger Accounting

Oracle Fusion Subledger Accounting is the single source of all internally derived accounting. Oracle Fusion Project Costing seamlessly integrates with Oracle Fusion Subledger Accounting for accounting costs. After the accounting events are generated in Oracle Fusion Project Portfolio Management, the subledger accounting entries are created and then transferred to the Oracle Fusion General Ledger.

For transactions imported from other Oracle Fusion applications, such as Oracle Fusion Payables, Oracle Fusion Receipt Accounting, and Oracle Fusion Cost Management, you can view accounting entries created in Oracle Fusion Subledger Accounting without navigating to the source application. For transactions imported from non-Oracle applications, you can view the accounts imported into Oracle Fusion Project Costing without navigating to the third-party application.